regarding the situation yesterday in usdchf it could be said that this was a difficult decision - why?:
1.) Formal setup: There was a very minimal green bar at the Hist_StepMA_Stoch. There was a crossing of the ema50 during the candle was developed, but no crossing on base of the candle close.
--> Could be decided as a re-entry signal because of the combination with the green bar
2.) eurusd and usdchf are a little correlated in standard - often when eurusd goes up, usdchf goes down and vice versa. --> we talk here for a short entry. That means your risk is doubled when you are also long in eurusd.
3.) I didn't follow the chart in realtime on opening of the candle, so what I saw was an older view. A very small green bar could turn into a red one during the candle develops - it depends on the price movement. So it could have been that if the price went up even more over the ema50 - you even had a long signal!
4.) Looking at the same chart this morning shows another view. See the two attachments. 1. yesterdays view, 2. today the same view.
--> green bar yesterday was so small that it is not developed today at the same position!
So for me it would have been a nice trade (see it on the chart after the development) - but on entry situation it was too risky for me concerning the point 3.)
Yes you are right. But risky one.
look for the number which is shown in the comment of the chart (Max bars to count). If your chart has not already loaded more than 2000 bars the indicator (configured on 2000) will not display in a right way.
To fill up the chart - go back to the beginning of the chart - so that MT4 will load more data. You'll see that the number in the comment will grow
thanky you kindly mibl
Mates, we are having a false signal so far on cable.
It was a short at 1.7425. Made a low at 1.7419. So, a lost. Now it is trading at 1.7452; that is -27 pips so far. I do not know if it will hit stop at 34 or if it should be closed cause we have a buy signal. All I know is that $ mood so far is down.
I did not take that short.
Because it was a rush motivated by news and because USDCHF did not break 1.3042 or last highs. For me this is important as now EURUSD, GBPUSD and USDCHF have a good correlation. Pivot is at 1.7424.
PD: cable now is in down mood till it breaks last high at 1.7482. Take care. I will not take the long signal we'll have at 12:00cet if I do not see USDCHF going down with fury.
Now, do the following:
This is a filter for StepMA_Stoch.
You only take the signal if bar is above/below +0,04 or -0,04.
I have not tested much, but it keeps you out of some bad signals.
I agree. I think this would keep us out of some borderline trades that would probably turn bad.
Eur/USD has just bounced off the ema 50, will be waiting on close and new open
plus confirmation break of trendline....
Eur/USD: Waiting on a possible retest of the ema 50......Anyone take the long based on a bounce off the ema 50 ? ( I saw no primary catfx 50 signal so did not enter - was this correct ? )